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Search Results 0 to 4 of about 5 (some duplicates have been removed)
FOX Business
Dec 11, 2012 5:00pm EST
decline. then prices will start heading up as we enter into the new year. melissa: do you watch the opec meeting at all? there is a lot more tension going on at this meeting than we've seen for a long time. iran and saudi arabia struggling for control of the cartel right now. you had venezuela come out at last meeting to declare they have the most oil on the map. more infighting than usual. does this concern you? are you focused on it at all? >> you know opec is becoming more exciting. melissa: it is. >> power grab for what little power opec really has nowadays. we're coming off stories u.s. domestic production is through the roof. our friends in canada still sending us oil. opec is trying to stay relevant. right now they're struggling with that. who wants to produce as much oil? the saudies are always on top. venezuela is always very vocal. at the end of the day opec is becoming quieter and less relevant. melissa: it is but still 40% of the world's oil. patrick, thanks for coming on. you're always fantastic. >> thanks. melissa: time to check the fuel gauge. natural gas line exploded in
FOX Business
Dec 10, 2012 5:00pm EST
. that is nicholas maduro. venezuela's oil minister announced at the last opec meeting the country has the largest oil reserves in the world. would the death of chavez have a major impact on the global oil market? with me, john kingston, platt's global director. welcome back to the show. this is huge. we've been following this for a long time but i mean it's very serious. emergency surgery. it is his third surgery. he never talked about what kind of cancer he has but at this point it has got to be very serious? >> i think we can assume the chavez area is almost over. as colleague of mine said i heard you refer earlier why that is setting up uncertainty in the market. you're always a little better with the crazy that you do know than the one you don't. melissa: i guess. >> what the future holds could be civil strife, not a civil war but i have felt for a long time that the biggest risk in oil markets would be a precipitous collapse of the venezuelan industry. you hate to think that the death of mr. chavez would set that off but ped vest is a, the state oil company has been essentially gutted by cha
FOX Business
Dec 31, 2012 5:00pm EST
year for opec. the cartel raked in, are you sitting down for this? more than a trillion dollars. i feel like dr. evil, a trillion dollars in oil revenue according to the u.s. energy information administration. that tops previous records set during the oil crease sis of 73, '74, 1981, even when you adjust for inflation. the average price of gasoline for the year also set an all-time record here in the states. according to aaa drivers paid $3.60 a gallon beating the previous record set last year. we beat that record unfortunately by nine cents. natural gas futures fell. a slate of cold temperatures recently pushed prices up with higher demand but forecasters say unusually warm temperatures are heading for the midwest and northeast as early as this weekend. >>> the senate gop caucus end ad high stakes meeting just a short time ago. will senate republicans embrace the latest framework for a fiscal cliff deal? also how failure to get a fiscal cliff deal could lead to a mortgage rate free fall. "piles of money" coming up. ♪ [ male announcer ] how could a luminous protein in jellyfish, impac
Search Results 0 to 4 of about 5 (some duplicates have been removed)